Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Govt targets land supply, RMA to make houses affordable

Govt targets land supply, RMA, construction productivity and infrastructure in housing response

By Paul McBeth

Oct. 29 (BusinessDesk) - The government has released a raft of targets and new research projects in response to the Productivity Commission's report into the unaffordability of housing in New Zealand.

The National-led administration aims to make home ownership more affordable by increasing land supply, cutting the resource consent time for mid-size projects, lifting construction productivity and improving the infrastructure to manage new housing projects, Finance Minister Bill English said in a statement.

"High housing debt diverts money from more productive investments, contributes to New Zealand's significant overall level of indebtedness and exposes taxpayers to growing demands for State assistance with housing costs," English said. "Those factors make it vital that housing becomes more affordable."

In April, the Productivity Commission made a slew of recommendations to improve housing affordability, and was especially critical of Auckland Council's proposed compact city approach which undermined that goal.

The government is looking at ways to assist Auckland's housing supply, and is considering legislative change to allow a faster adoption of Auckland' unitary plan to address that need.

"Many of the changes that will make a difference lie with councils, and the government expects them to share the commitment to improving housing affordability," English said.

As part of its response, the government will introduce a six-month time limit on council processing of medium-sized Resource Management Act consents to speed up developments including subdivision. It is also looking at ways to create a national or regional hub for consent authorities, and will consider setting up a rival agency.

"If implemented fully, today's announcements on housing affordability will reduce housing stress and enable the housing market to better meet the needs of middle and low income New Zealanders," English said.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Scoop Business: RBNZ Keeps OCR At 3.5%, Signals Slower Pace Of Future Hikes

Reserve Bank governor Graeme Wheeler kept the official cash rate at 3.5 percent and signalled he won’t be as aggressive with future rate hikes as previously thought as inflation remains tamer than expected. The kiwi dollar fell to a seven-month low. More>>

ALSO:

Weather: Dry Spells Take Hold In South Island

Many areas in the South Island are tracking towards record dry spells as relatively warm, dry weather that began in mid-August continues... for some South Island places, the current period of fine weather is quite rare. More>>

ALSO:

Scoop Business: Productivity Commission To Look At Housing Land Supply

The Productivity Commission is to expand on its housing affordability report with an investigation into improving land supply and development capacity, particularly in areas with strong population growth. More>>

ALSO:

Forestry: Man Charged After 2013 Death

Levin Police have arrested and charged a man with manslaughter in relation to the death of Lincoln Kidd who was killed during a tree felling operation on 19 December 2013. More>>

ALSO:

Smells Like Justice: Dairy Company Fined Over Odour

Dairy company fined over odour Dairy supply company Open Country Dairy Limited has been convicted and fined more than $35,000 for discharging objectionable odour from its Waharoa factory at the time of last year’s ”spring flush” when milk supply was high. More>>

Scoop Business: Dairy Product Prices Decline To Lowest Since July 2012

Dairy product prices dropped to the lowest level since July 2012 in the latest GlobalDairyTrade auction, led by a slump in rennet casein and butter milk powder. More>>

ALSO:

SOE Results: TVNZ Lifts Annual Profit 25% On Flat Ad Revenue, Quits Igloo

Television New Zealand, the state-owned broadcaster, lifted annual profit 25 percent, ahead of forecast and despite a dip in advertising revenue, while quitting its stake in the pay-TV Igloo joint venture with Sky Network Television. More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus

Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news